Indeed, in general, healthy investment returns cannot be sustained in a weak economy, and of course it is difficult to save for retirement or other goals without the income from a job.
BEN BERNANKEIn the future, my communications with the public and with the markets will be entirely through regular and formal channels.
More Ben Bernanke Quotes
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Nobody likes to fail but failure is an essential part of life and of learning. If your uniform isn’t dirty, you haven’t been in the game.
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Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve’s other mandate objectives of maximum sustainable employment and moderate long-term interest rates.
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I and others were mistaken early on in saying that the subprime crisis would be contained. The causal relationship between the housing problem and the broad financial system was very complex and difficult to predict.
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I am very proud of my nerd-dom.
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I am confident that we will meet whatever challenges the future may bring.
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I don’t fully understand movements in the gold price.
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Both humanity’s capacity to innovate and the incentives to innovate are greater today than at any other time in history.
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Not all information is beneficial.
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I don’t see much evidence of an equity bubble.
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I’d throw dollars out of helicopters if I had to, to stimulate the economy.
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It’s the price of success: people start to think you’re omnipotent.
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We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
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Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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The central bank needs to be able to make policy without short term political concerns.
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I come from Main Street, from a small town that’s really depressed.
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The sources of deflation are not a mystery. Deflation is in almost all cases a side effect of a collapse of aggregate demand.. a drop in spending so severe that producers must cut prices on an ongoing basis in order to find buyers.
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It’s true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
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House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
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So it’s important, as it affects overall levels of production and employment in the U.S. There are many domestic industries doing well in the United States, notwithstanding a strong dollar.
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If you want to understand geology, study earthquakes. If you want to understand the economy, study the Depression.
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The more important reason is that the research itself provides an important long-run perspective on the issues that we face on a day-to-day basis.
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I generally leave the details of fiscal programs to the Administration and Congress. That’s really their area of authority and responsibility, and I don’t think it’s appropriate for me to second guess.
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If your uniform isn’t dirty, you haven’t been in the game.
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The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
BEN BERNANKE